Forex indicator ratings
Indicators are the most popular tool traders use to analyze the market.
Almost every second trader who adopts systematic trading builds their strategy directly on several technical indicators.
While previously only a few standard tools were available to everyone, now the variety and number of technical indicators is simply astonishing.
In fact, our experience shows that too many isn't always a good thing, as traders often have to sift through dozens, if not hundreds, of indicators to find something useful and relevant in the mountain of junk.
Trading systems from ForexClub
Against the backdrop of the horrific crisis and devaluation of the national currencies of Ukraine and Russia,
the issue of preserving personal wealth is becoming increasingly pressing. While banks previously allowed their interest rates to cover inflation, now, even investing in a reliable sector can make it quite difficult to preserve your money.
Therefore, the Forex market, with its opportunities, is increasingly gaining popularity as a place where you can not only preserve your capital, but also increase it.
Of course, becoming a trader and learning to show truly consistent results requires spending hundreds of dollars, and the time required to develop your own idea and refine it is not even worth mentioning.
Alpari Training Courses Overview
To become a professional in their field, everyone must possess
highly specialized knowledge. Despite the abundance of advertising and promises that any beginner can make money in the financial markets, the reality turns out to be more bitter than the sweet fairy tales and promises.
The fact is that few ordinary people treat trading as a profession, and because of the constant advertising of people making thousands of dollars a day, everyone has developed the delusional idea that financial markets are a bottomless pit from which you can simply pump money.
However, the reality is that only the pros survive in the market, and the profession of a trader is so intellectual that few can master it.
The Best Books on Forex Trading
All experienced and professional traders began their journey with education. Of course, the vast information space
offers numerous sources of information, including various articles and video tutorials, but experience shows that books have the most profound effect on a trader's learning process.
Every book is a source of knowledge, and when it comes to books on stock trading, these are also stories of successful people who were able to identify the main points from a pile of unnecessary information.
It's worth noting that the effectiveness of any given market analysis method isn't based on rhetoric, but rather on real, successful traders who have put their experience down on paper.
the Forex Books section of our website . However, to avoid confusion, we've decided to provide mini-recommendations of books that will be extremely beneficial and teach you the basics of trading.
What is CFD trading?
CFDs are considered a relatively new trading instrument that is gaining increasing
popularity among traders and investors.
While five years ago we might have encountered just a couple of such assets in our MT4 trading terminal, today the range of various instruments is so vast that some forex brokers have begun offering separate account types for CFD trading, which, when opened, provide you with a full range of services for trading this asset.
So what is a CFD? A CFD is a special type of financial asset that represents a contract for the difference between the opening and closing prices of a trade.
In layman's terms, when trading CFDs, you and I enter into a kind of contract with each other or a broker. Upon closing, the difference in price between the opening and closing of the trade is received as a profit or loss, depending on the direction of the asset's price.
Forex informers.
When trading Forex, traders need a wealth of information, which can be obtained using special online
informers that display dynamic data.
Some traders don't even realize that informers are far from limited to currency quotes; in practice, there are many other, equally useful tools.
You can find some of them on this website:
Currency quotes – of course, this informer displays the broker's bid and ask prices for the currency, the price change relative to the previous quote, and the spread.
Free SMS Forex signals
Trading using third-party signals is currently practically the only way
for a Forex beginner to make money. Several such services exist, including copy trading, brokerage website services, and SMS signals.
The simplest and most effective way to find market entry points is via SMS messages. By enabling them, you'll be notified of a profitable trade as quickly as possible.
Free SMS Forex signals offer the fastest trade execution speeds, resulting in the highest profits. They allow trades to be opened directly on your phone after installing a mobile terminal, and provide clear recommendations.
The message contains a recommendation specifying the currency pair, the direction to open the position, and the market entry point.
Personal account on Forex.
After registering with a broker, you'll be taken to the trader's dashboard. Some people think this is only for depositing funds or
withdrawing profits, but in reality, the trader's dashboard offers a host of other features.
Depending on the brokerage, you can find everything from statistics to free advisors or forecasts.
Let's take a look at what's interesting in the trader's dashboard and how useful these features are.
Let's start with the most common:
Trading in Russia.
While Soviet citizens were only introduced to trading through foreign films, Russians can now
become traders themselves.
The era of stock trading flourished after the collapse of the Soviet Union, although initially, trading was restricted to a limited circle of professionals accredited by the exchange.
The advent of the internet radically changed the situation, making stock trading accessible to virtually anyone. Furthermore, margin trading has become more widely used, significantly increasing traders' earnings and risks.
Currently, trading in Russia operates in several directions.
Depth of market or market depth.
Very often in various publications one comes across such concepts as the price depth or market depth; in essence, these are synonyms
characterizing the same thing.
The Market Depth is a data table that displays currently placed exchange orders. The table has several columns: volume, contract price, and trade.
This data helps assess the true market depth and actual transaction volumes broken down by price quotes.
The use and information content of the Market Depth depends on the specific broker and whether traders' orders are displayed on the live exchange. In the latter case, you can even see your own order if it has a significant volume.
Futures trading on the exchange, necessary programs and transaction examples
Many newcomers, as well as experienced forex market players, lack the courage to try
other instruments, limiting themselves to a narrow range of currency pairs. A number of myths have developed around futures trading, including that it's very complicated, difficult to predict prices, and quite difficult to understand.
Of course, the first thing that puts off a newbie from futures is the name of the symbol, which often carries no associations with a commodity or stock, unlike a currency pair, where everything becomes perfectly clear after looking at the name.
However, you don’t even think about how much you limit yourself and prevent yourself from realizing your potential by actually working on difficult to predict currency pairs like the euro/dollar and pound/dollar.
The cost of 1 lot in Forex trading, a simple cost calculation
When trading on Forex, there are many different parameters that need to be calculated before opening a trade, one of which
is the cost of 1 lot.
The lot value is the amount of funds in the deposit currency that must be paid when opening a one-lot trade. This parameter depends on the currency pair being traded.
Calculating the lot value is fairly simple, but it's important to keep in mind that in addition to the trader's own funds, leverage also plays a role. The higher the leverage, the less equity is required to support the transaction.
The standard lot size is 100,000 units of the base currency in the currency pair. So, if a trade is being conducted on EURUSD, the base currency would be the euro.
Free Forex trading training.
Self-study is always difficult, and when it comes to learning trading, the task becomes even more challenging. From the vast amount of information available,
it's important to identify the most important points and structure the learning process correctly.
There are several options for learning forex trading for free; they are a complete alternative to expensive paid courses or video tutorials.
All you have to do is choose the one that best suits your needs, based on your available time and other factors.
Free forex services.
Some traders believe that most of the useful services provided by brokers are
paid, but in practice there is also such a thing as "Free Forex Services".
Forex services are a collection of various useful tools that simplify and make trading more efficient, and sometimes simply do the work of analyzing and finding market entry points for you.
These services include signals, Forex copy systems, news feeds, forecasts, analytical reviews, free online courses, and seminars.
Forced closure of positions on Forex.
Sometimes, when trading Forex, positions are closed without the trader's initiative or because stop orders are triggered.
Forced closures are carried out by the broker through which the trade is conducted, and this type of trade termination often causes a lot of trouble for the trader.
Therefore, the main goal is to prevent such situations from arising. To do this, let's first understand the reasons why a broker might close your orders.
Besides outright fraud , dealing centers close their clients' positions for the following reasons:
American trading session.
This trading time has long been one of the most dynamic, with particular activity on the currency
market observed when the European and American trading sessions overlap. It is at this time that transaction volumes and, accordingly, the liquidity of trading instruments soar.
The American trading session begins in the evening, from 5:00 PM to 2:00 AM the following day Moscow time. Initially, trading is conducted only on the New York trading floor, but Chicago joins within an hour.
The main currency, as expected, is the US dollar, closely followed by the euro, followed by the Japanese yen, the Canadian dollar, and other popular forex currencies .
Interesting tips for Forex trading
Forex trading is gradually turning from an exciting game into a daily chore, one we want to make simpler
and easier. Traders' trading terminals and most brokers offer this opportunity through a wide range of services.
Using additional features not only simplifies trading but also significantly increases its efficiency, so it's important to keep this aspect in mind.
The most common options include one-click trading, rebate services, web terminals, news feeds, copy trading, and VPS hosting.
What are these services for, and what benefits do they bring to those who use them?
All weekends and holidays on Forex, when the market is closed
When trading on Forex, it's important to understand that, in addition to weekends (Saturday and Sunday),
the currency exchange also has holidays.
Moreover, holidays don't always mean the exchange is closed; everything depends on the specific holiday and the trading session being conducted.
For example, if the US celebrates Independence Day and trading is not conducted in the American session on July 4th, then the European and Asian exchanges operate normally.
Moreover, in recent years, some forex brokers have been allowing cryptocurrency trading on weekends, providing 24/7 market access. While
this seemingly simple matter may seem like a simple one, there are many important nuances that should definitely be considered.
Spread return to the maximum, the best rebate broker on Forex
The concept of a rebate of a paid spread when trading on the Forex currency exchange is familiar to almost any trader; its attractiveness lies in the fact that without additional conditions you can receive a fairly decent reward for your trading.
Spread return allows you to reduce the commission for already completed transactions, and its size depends on the currency pair you choose and trading volumes.
There is currently a Promotion underway, under the terms of which if you open an account with Amarkets, you will be entitled to the maximum spread rebate.
The reward amount ranges from 0.7 points to 2 points.
That is, you will receive from 7 to 20 dollars in return for each lot of transactions performed. For deposits of more than $10,000, it is possible to increase the return of the paid commission by another 35%, that is, from 1 to 2.7 points per lot.
Asian Forex session.
This period is the operating time for trading venues such as Tokyo, Hong Kong, and
Singapore. Recently, Australia has increasingly been included in the Asian trading session.
The list of trading venues immediately reveals the dominant currencies at this time: the Japanese yen, the Australian dollar, the Hong Kong dollar, and, accordingly, the Singapore dollar.
The Asian Forex session starts at 3:00 AM Moscow time and ends at 1:00 PM, with the end of the Asian trading session overlapping with the European session. Therefore, if you want to trade exclusively in Asia, try to close your trades before 10:00 AM.
How to easily calculate the value of a Forex pip using a calculator and formula
The value of one Forex pip plays a significant role in choosing the right trading volume. A trader must clearly understand how resilient their position is to the trend and what price fluctuations they can easily withstand.
It is this concept that forms the basis of some trading strategies and allows you to set a specific profitability level for transactions.
A Forex pip is equal to the last digit in a currency pair's quote; its specific value depends on the volume of the transaction being made; the calculation is made in the quoted currency in the currency pair.
For a two-digit quote it is 0.01, for a three-digit quote it is 0.001, and for a four-digit quote it is 0.0001.
Currently, the most popular quotation is the five-digit one; in this case, you should also focus on the last digit, as shown in the photo.
Specific examples will help to understand this concept more clearly.
Computer for Forex trading
To trade on the currency exchange with complete comfort, you need a personal computer with internet access.
Sometimes you can find simply unimaginable requirements for this equipment online, but in practice everything is much simpler.
For normal operation, a machine with minimal parameters that meet the requirements of a trader's trading terminal is quite sufficient. These parameters and some other aspects will be discussed in this article.
First of all, you should pay attention to the minimum system requirements of one of the most popular platforms, MetaTrader4. There's no need to buy an overly powerful machine; it's better to use the money you save for trading.
Minimum computer requirements for trading:
How to fund a Forex account: profitable and fast deposit options
One of the most common questions when trading on the foreign exchange market is "how to fund a forex account?" This seemingly simple step can sometimes cause a host of complications.
It should be taken into account that some brokers practice an approach in which withdrawals are only possible using the same method by which they were deposited.
There are several simple ways to fund a forex trader's account: with electronic money, bank transfer, from a card account, cryptocurrency, or cash at a dealing center office.
When making your choice, be sure to pay attention to the size of the commission charged, the transfer period, and the ability to choose the payment currency.
Some brokers charge withdrawal fees as high as 5%, while other brokerage companies allow you to withdraw funds without any fees.
Each of the listed options has its own advantages and disadvantages, which should be taken into account when choosing it.
Micro Forex or how to trade on cent accounts.
Trading on cent accounts has a number of its own characteristics, ranging from the choice of a cent broker to the volume of transactions performed.
This type of trading, also known as micro Forex, is ideal for beginner traders, as it allows them to practice on a real account without risking large sums of money.
It should be noted that, in addition to technical issues, there is some discrimination against traders who work on these accounts, as their orders are executed slightly slower and the spread may differ from standard account options.
The main points we will cover in this article are the choice of leverage, trading strategy, and the volume of trades.
As well as a number of other nuances that you will encounter when working on micro Forex.
Current Forex statistics, volumes, currencies, and trader earnings
The Forex market is one of the largest platforms for currency trading, with Forex statistics showing daily turnover reaching several trillion dollars.
However, not all currencies are equally popular; preference is given to the US dollar, the euro, and some other trading instruments.
Trading on the market itself is carried out by several hundred large brokers, who act as representatives of thousands of smaller brokerage firms, which in turn work with individuals known as traders.
Forex statistics speak for themselves; from their analysis, one can glean a wealth of useful information for practical trading, with the following key sections:
European Forex session.
It is the most popular among traders from the CIS countries, due to the fact that its working hours
almost completely coincide with the working day in Russia, Ukraine, and neighboring countries.
The European Forex session is a very interesting time for trading, as most of the currencies popular on the forex market are from eurozone countries.
Therefore, it's during this time that important news releases trigger price surges and falls. On the one hand, this offers an opportunity to make money, but on the other, it can also quickly lead to a loss of your deposit.
A dictionary of Forex terms essential for successful trading
To start trading on the foreign exchange market, you need to know basic Forex terms. This terminology will allow you to quickly grasp the essence of trading.
This brief dictionary of forex terms contains just a few dozen of the most common terms and concepts, providing a general understanding of certain operations and helping you navigate emerging situations.
A breakdown of the symbols used in currency trading will be provided. They serve to describe basic operations and are used to characterize the state of an account, as well as in some other situations.
In this article, I will not burden the reader with a ton of technical jargon; there is a special section on forex terms . All attention will be paid to practical concepts necessary for everyday work in the forex market.
A forex dictionary is, so to speak, a brief summary of the main points.
Cent Forex and important features of trading on cent accounts
Beginner traders think that forex trading requires a large deposit, but in practice, this is not entirely true. You can start trading with a minimum capital of just $1.
For these purposes, so-called cent forex is used; it allows you to test your own trading strategy or test an automated advisor.
The main purpose of such accounts is to test strategies, but with the right skills, some traders even manage to make good money using them.
However, you shouldn't think that cent forex is always trading with a couple of dollars; you can often find traders trading there with a deposit of 500 dollars or more.
There are a number of peculiarities associated with using cent accounts, which will be discussed in this article. I will also provide a number of recommendations on how to earn money with minimal capital.
Taxes on Forex earnings
Once you've started earning regularly in the forex market, the question naturally arises: do you need to pay taxes on forex?
The answer is clear: yes, if your annual income is only a few tens of dollars, no tax inspector will bother you. But if your profits amount to thousands of dollars, you should definitely consider taxation.
It's best to do this yourself, rather than waiting for a visit from a tax inspector, who isn't always good at calculating accurately.
You'll have to do everything yourself, so it's a good idea to learn what taxes apply to forex trading and the payment procedure.
Forex taxes are the taxation of profits earned from trading, specifically profits minus the overhead costs that facilitated the trading.
Forex trading hours, session schedule, holidays and weekends
The Forex exchange operates 24 hours a day, excluding weekends and holidays, although there are some divisions into trading sessions depending on time zones.
This point should also be taken into account in order to make your trading more successful, since sessions usually characterize market activity for certain currency pairs and have distinctive trading features.
Forex trading hours start at 11 pm GMT on Sunday and end at 10 pm on Friday.
GMT is used as the basis for all calculations, with a difference of +4 hours with Moscow time.
Therefore, you can start trading no earlier than 3:00 Moscow time on Monday, and close all orders no later than 2:00 Moscow time on Saturday.
Otherwise, your position will be carried over to the next week and you will have to pay an additional commission.
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